________: a quantitative restriction on the amount of a product that may enter a country during the time period
Fill in the blank(s) with correct word
Import quota
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A major fruit juice manufacturer failed in its attempt to engage in price discrimination between students and all other consumers. What is a possible explanation for this failure?
a. There was nothing to prevent the students from reselling the fruit juice to other consumers. b. The fruit juice manufacturer produced in a perfectly competitive market. c. The two groups of consumers probably have the same demand elasticity for fruit juice. d. The cost of producing the product is relatively high. e. Demand for fruit juice is probably inelastic.
A given supply curve illustrates
A. the effect of a change in technology on quantity supplied. B. the effect of a change in resource costs on quantity supplied. C. the relationship between expected future prices and quantity supplied. D. the relationship between price and quantity supplied.
Refer to the diagram, where S d and D d are the domestic supply and demand for a product and P c is the world price of that product. With free trade, that is, assuming no tariff, the outputs produced by domestic and foreign producers respectively would be:
A. v and vz.
B. w and wy.
C. w and wz.
D. vx and xz.
Assume the current equilibrium output is $500 billion, the spending multiplier is 5, and the government increased spending by $10 billion. If the new equilibrium output increased to $550 billion, most likely the planned investment schedule will look like:
A) down sloping and curved B) vertical C) horizontal D) upward sloping and curved